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Which do you think your clients would fear more: an IRS audit of their retirement plan, or a letter from the Department of Labor (DOL) requesting a laundry list of documents, pending a DOL investigation? I would guess that almost universally, our clients would rather deal with the DOL vs. the IRS. Because while both of these governmental agencies share different (and sometimes overlapping) responsibilities in the retirement plan arena, it is the DOL that should concern our clients more. Why is that?
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